Ghana’s Debt Relief Milestone

By Chris Mensah

July 4, 2025

The major and significant business and economic news of the week of June ending 2025 for the Ghanaian economy interestingly was unreported by major business news outlets in Ghana such as Ghana Web Business, Joy News Business, Business and Financial Times and Citi Business among others during the period.

It was the Ghana Parliament’s passage on June 24th, 2025, of a $2.8Billion Debt Relief and Restructuring Agreement package involving Ghana’s 25 Creditor nations including China, France, the United States, Germany and the United Kingdom. 

This Debt Relief and Restructuring Agreement defers to 2039-2045 payment of Ghana’s $2.8Billion debt with its creditor nations which was due between 2022 to 2026, and constitutes a major breakthrough for the Ghanaian economy. It also is a major endorsement by the creditor nations of Ghana’s current economic recovery program. 

Interestingly, this significant economic news was captured by major international economic news outlets and portals around the world such as Reuters, CNBC Africa, MSN, The Global Economics, Voice of Africa and Business News Insider Africa. Parliament’s approval of the Debt Relief package with Ghana’s creditor nations is indeed major positive news which should have been captured by prominent and major business news portals in Ghana. 

The Government now formally has the breathing space to manage and consolidate its economic recovery program for the benefit of the Ghanaian economy and Ghanaians in general. 

It also demonstrates confidence of the creditor nations in the current economic managers and the Government of Ghana, and shows the willingness of these major creditor nations to substantially support Ghana’s economy going forward. 

It is however unfortunate that major business news portals in Ghana strangely missed such a call major development and rather generously continue to focus their attention on insignificant and negative news items such as daily tracking of treasury bill subscriptions, and daily news tracking of forex rates. With the pressure of servicing foreign debts deferred to 2039 – 2045, prudent management of the Ghanaian economy by the Government would be very feasible for the benefit of the Ghanaian economy.  This is very good news indeed for the Ghanaian economy going forward. Thank you.

God bless our Homeland Ghana And make our Nation great and strong.

Long live President Mahama, long live Ghana

Author: Mensah Dekportor

Hamburg – Germany

EmaiI: cmdekportor@mail.com